Category: Tenant Representation

Kelly, one of the top retail brokers in metro Atlanta, recently joined Ackerman Retail as a senior vice president. She will focus on third-party leasing as part of a Landlord Representation team that includes Executive Vice President Courtney Brumbelow.

“Kelly brings a unique mix of expertise, including landlord and tenant representation in combination with her experience in restaurant ownership and franchise development,” said Leo Wiener, president of Ackerman Retail. “We’re thrilled to add Kelly to our team.”

This experience expanded Kelly’s involvement in commercial real estate and site selection, ultimately leading to her current focus – retail leasing.

Most recently, she launched the third-party landlord representation platform at The Windsor Realty Group.

Among her current exclusive leasing assignments is Marietta Square Market Food Hall – which she has 100% pre-leased. The highly anticipated food hall is scheduled to open in early 2019.

Kelly’s talents extend beyond commercial real estate.

Her extensive musical theatre resume includes performances in touring Broadway plays such as South Pacific (with Robert Goulet), Theater of the Stars at The Fox Theatre and 1940’s Radio Hour at Theatre in the Square in Marietta, Ga.

Kelly has also been the lead singer in a variety of country and rock ‘n roll cover bands, singing songs by the likes of Journey and Melissa Etheridge.

He added that the ongoing strong demand for product – and lack of overbuilding in sectors such as office during this cycle – puts Atlanta in position to be a leading market for investors in 2018 and beyond.

The company’s annual Investor Conference is an opportunity for Ackerman & Co. to provide perspective on trends in commercial real estate and for guests to network with leading owners, operators, investors and capital sources.

Conference themes are sometimes broad in scope but this year the focus was squarely on the Atlanta market as Kris Miller addressed the question: Atlanta – the Next Gateway Market?

Atlanta lacks the land constraints, barriers to entry or “24/7” attributes of established gateway cities such as New York, Chicago, San Francisco and Boston. Yet, Miller added, Atlanta’s diversified economy, success at attracting corporate relocations and growth as an entertainment hub are bringing it closer to the status of a gateway market.

Beyond his business accomplishments, he was a philanthropist, and a friend and mentor to many.

On his passing, we share the thoughts of just a few of Charlie’s friends and colleagues.

“Charlie was a real estate legend. He was a great mentor, my partner, and my friend. He crammed 20 times more ‘life’ into his life than most of us will.” Kris Miller, President, Ackerman & Co.

“Charlie was a bold and future-focused real estate innovator. He was a wise and courageous entrepreneur, broker, investor and owner. His vision and leadership guided Ackerman & Co. to its highly respected position over many years.” Bob Mathews, President and CEO, Colliers International Atlanta

“A wonderful friend and inspirational mentor. I feel truly blessed to have worked with Charlie for the last 21 years.” Vivian Barnes, CFO and EVP, Ackerman & Co.

“Charlie was a truly inspiring leader. He not only grew Ackerman & Co. into a highly successful commercial real estate firm but later went on to found Ackerman Security Systems, which set the standard in home security. What an extraordinary life he led, and what a great experience it was to be his friend and learn from him over the years.” Keene Miller, President, Ackerman & Co. Brokerage Division

“He was the most competitive person I ever encountered. Whatever it took, he had to be No. 1. He had to win. He had to be out front. And he achieved it in every category.” Sam Massell, Buckhead Coalition President and former Atlanta Mayor

“While I recognized Charlie Ackerman was a fiercely competitive individual, I also thought of him as a gentle, passionate person – exuding a passion for the cultures and arts and history of mankind in all corners of the world. Charlie Ackerman was demanding, competitive, a perfectionist. But he also always was a true gentleman.” John Schaffner, founder of Buckhead View

Ackerman & Co. recently completed a five-year, 5,136-square-foot lease with Godavari, a national restaurant chain specializing in South Indian cuisine, at Windward Promenade in Alpharetta, Ga. Godavari is the first Georgia location for the restaurant chain, which currently has 14 restaurants across the U.S.

Troy Morris, brokerage associate at Ackerman & Co., assisted Godavari in selecting Windward Promenade as the site for its initial metro Atlanta restaurant and represented the franchise in the lease transaction. Sam Krueger of Riverwood Properties LLC represented the landlord (Riverwood Properties).

“This is an excellent, high-visibility location for Godavari’s first restaurant in metro Atlanta,” said Morris. “The restaurant will benefit from its proximity to numerous office buildings and retailers, and will also attract customers from the affluent residential neighborhoods in and around Alpharetta, which includes a heavy Indian population.”

Bryan, who earned the Ackerman & Co. Top Young Producer of the Year award years before, continues to surpass expectations, evidenced by his most recent deals.

Last month, Bryan signed a new medical tenant and renewed an existing one, both at ten-year terms. The active broker also signed a brand new retail tenant and assisted a long-term tenant with a major expansion, doubling their space for another 10-year term.

If you’re in the market for a diligent, service-oriented commercial real estate solution provider, Bryan is your expert.

Keene Miller, Ackerman & Co. President of Brokerage and also President of The Atlanta Commercial Board of Realtors, spoke at the 59th Million Dollar Club Banquet, celebrating the best in commercial real estate. The Atlanta Commercial Board of REALTORS® is one of the largest commercial in the nation with more than 2,200 members. The 2017 Million Dollar Club produced over a record-setting $26+ billion in commercial real estate transactions, surpassing the previous record of just over $25 billion, set in 2016.

Ackerman congratulates all Million Dollar Club award winners, including our own, for their outstanding achievements. Each of the following Ackerman brokers has generated in excess of four and a half million dollars in commercial real estate sales and leasing activity last year.

Industry veteran Brian Lefkoff has joined Ackerman & Co. as Senior Vice President under the company’s retail services platform, Ackerman Retail, which focuses on strengthening and expanding its full service retail brand throughout the Southeast.

Lefkoff joins the team with more than 15 years of solid executive retail tenant representation and management experience. He will be representing retailers with their site selection and expansion on behalf of Ackerman Retail.

Most recently, Lefkoff was Managing Partner/Owner of Southern Retail Brokerage Services, a firm specializing in site selection and lease negotiation for retail tenants.

“We are steadfastly growing our platform with the best talent in the industry to provide optimum solutions for our clients,” said Leo Wiener, President of Ackerman Retail. “Brian has extensive relationships and experience with complex retail transactions and providing enterprising solutions to some of the nation’s major national brands.”

F. Keene Miller, President of Brokerage with Ackerman & Co. was named President of the Atlanta Commercial Board of REALTORS (ACBR) for the 2017 term. Miller was sworn in during ACBR’s Annual Business Meeting and Awards Ceremony held at the InterContinental Hotel Buckhead on December 9th. The Atlanta Commercial Board of Realtors, an instrumental factor in the growth of organized real estate in the state of Georgia since 1910, is the largest commercial realtor association in the country with more than 2,500 members.

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“Service above self is his motto,” said John O’Neill, senior managing director at Cushman & Wakefield, when describing Miller from the podium during the ceremony. “Keene is a consensus builder who leans in to get the job done,” he added. Miller will be the association’s 42nd president.

Miller who believes in “never letting the moment be bigger than him” is committed to the ACBR’s continued efforts to increase diversity, offering higher education classes and advocating for the commercial real estate industry while supporting the communities in which they do business.

The ABC’s of Ackerman takes flight with our first spotlight of the year. Ackerman & Co.’s 2015 Young Broker of the Year, Chandler Pope, recently sat down with us to discuss the growth of his commercial real estate career and shared some insight into his adventurous life.

A. First of all, congratulations on being named Ackerman’s Young Broker of the Year for 2015! Can you tell me about the goals you set at the beginning of 2015 and how you were able to achieve them?

It took a lot of hard work by staying disciplined, organized and focused on my business plan. Some of my goals were networking, making a certain number of calls each week, staying up to date on commercial real estate news and researching and driving my market.

B. Let’s go back to the beginning. What brought you to Ackerman and how long have you been here?

I knew I wanted a career in the commercial real estate industry after I graduated from the University of Alabama in May of 2014. I started networking with people in the industry and eventually met Douglas Biggs at Colliers International. He put me in contact with Ackerman’s President of Brokerage, Keene Miller. I enjoyed meeting with Keene and the other brokers in the office. I accepted a position as an Associate in the Brokerage division in July of 2014.

C. You said that people were a big draw for you when you made the decision to join the brokerage What’s the best part of working at Ackerman?

The environment and definitely the people. We have an outstanding work environment making it easy to accomplish tasks and stay focused on your business. Everyone here is extremely supportive which makes for a great atmosphere.

Every day is different. I enjoy meeting and interacting with a diverse range of people, scheduling and attending client tours and working on the entire transaction process from initial negotiations to move-in.

F. What advice do you have for someone trying to break into your field?

Choose a specialty and a market. Become an expert in your market and make your presence known. Develop a strategy, be disciplined, organized and stay focused. Don’t let rejections slow you down. Establish a professional relationship with everyone you meet. Build credibility, relationships, and trust by treating everyone fairly and with respect. Do what is in the best interest of your client and focus on their specific goals and needs by adding value.

Round two is the rapid fire round!

G. Tell us about some of your hobbies.

I enjoy spending time with my family and friends. I play a lot of basketball and I love to ski. I also play the guitar in my free time.

H. What’s something that surprises people about you?

Between 1994 and 2000, I have visited over 30 countries and lived overseas. In those six years, I spent four years in Kuala Lumpur, Malaysia and two years in Santiago, Chile.

I. More than a lot of people do in their lifetime. For someone who’s done so much, what’s something that’s on your bucket list?

Sky diving was a big one that I’ve already check off, but I’d love to take it to the next level and base-jump one day.

J. Who has been the most important person in your life? Can you tell me about him or her?

My parents are the most important people in my life. They are very loving and supportive in everything I do.

Say you’ve been on the market for a while, looked at just about every space there is and finally – with the expert help of your broker – you’ve found the perfect space to lease, under the right terms and the landlord/leasing agent is ready to seal the deal. But wait…the deal can’t go through until certain details associated with a CMBS loan are resolved.

Why you might ask? In some cases, the property you are interested in leasing has a CMBS loan on it, requiring leases be approved by the Master Servicer and/or the Special Servicer of the CMBS loan before you (the tenant) can move in. Without the servicer’s consent, important things such as leasing commissions, tenant-improvement allowances, and/or landlord costs can’t be paid and the deal can get delayed.

So what exactly are CMBS loans and who are Master and Special Servicers?

CMBS stands for commercial mortgage backed securities. These securities are bonds whose payments are derived from a loan or pool of loans on commercial real estate. As such, these securitized loans are held in a trust that are then “serviced” by a lender. It is the servicer’s utmost responsibility to protect the trust and thus its investors. The primary method of protecting the trust is to review major leases within these portfolios of CMBS properties.

According to a Senior Credit Analyst on the lease team for Wells Fargo Bank, “Servicing CMBS loans are more complex than a non-securitized loan. We have more regulations to follow and more parties to get approval from. We can move things faster that are within our authority to approve as master servicer and the bigger the lease the longer it takes to get consent because many times we must send it to the special servicer and they usually have other parties they need approval from too; all of which takes longer.”

In the heat of lease negotiations, the last thing you think of is lender consent. Here are several things you can do to prevent any snags through the leasing process:

Think of the lender earlier in the process; at least a month before lease execution. You are not the only borrower who needs an SNDA (Subordination Non-Disturbance and Attornment Agreements) negotiated and/or a lease reviewed.

The lease approval process can take up to 15 days; sometimes longer. Would it surprise you to know that Wells Fargo reviews around 5,000 leases a year and enters into about 700 SNDAs?

Lease consents from servicers can cost up to $500 or more. These costs are often passed through to the landlord and sometimes the tenant.

The lease should not be fully executed (signed by tenant and landlord) without lender (servicer) consent.

About Ackerman & Co.

Ackerman & Co. is one of the top commercial real estate companies in the Southeast with more than 35 million square feet of office, medical, retail and mixed-used space developed, nearly 8 million square feet more under management, an investment portfolio valued at more than $1 billion and a widespread presence that leverages the experience of more than 100 real estate professionals.